Accountant to be jailed after tax scam
Accountants - 07/07/2006 16:14:54
An accountant from Devon faces a jail sentence after being caught committing fraudulent activities worth £4.5 million.
The accountant, Kevin O'Connor, bought a Ferrari with the money he made from giving builders false building certificates so that they could avoid paying certain taxes.
O'Connor was assisted in his crimes by accomplice Paul Duncan who ran an accountancy firm in Devon called Churchill and Co.
Duncan refused to give evidence but O'Connor became the star witness for prosecuting Duncan as he turned on his partner in crime and told all about the pair's activities.
The pair got hold of Construction Industry Scheme (CIS) certificates and lent them to other builders across the country, this certificate enables builders to avoid paying taxes on contractors' wages.
They also forged the identity of a builder who was out of the country in order to get an extra CIS certificate in his name.
O'Connor, after admitting his part in the plot, is awaiting his sentence. Duncan is charged with one count of conspiracy to cheat public revenue and one count of conspiracy to launder money.
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